What is the full form of PSB?
PSB full form is Punjab & Sind Bank. PSB is a government-owned bank with its headquarters located in New Delhi. to know more about Punjab & Sind Bank read this article carefully. As of the 31st of March, 2020, the bank has 1,526 branches, 635 of which are located in the state of Punjab. In addition, there were 25 zonal offices dispersed throughout India.
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A basic overview of PSB
- Sir Sunder Singh Majitha, Bhai Vir Singh, and Sardar Tarlochan Singh created PSB on 24 June 1908.
- PSB was one of the six banks nationalized by the Indian government in the second wave of nationalizations on 15 April 1980.
- PSB established a London branch in the 1960s. In 1991, at the request of the RBI, the Bank of Baroda acquired the PSB London branch, after Punjab & Sind’s involvement in the 1987 Sethia scandal.
- Since 2004, Punjab & Sind has experienced annual growth of more than 40%, and its most recent IPO was oversubscribed by more than 50 times.
